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As College Costs Continue To Rise, A Look At Savings & Investment Plans That Can Help

Tuition increases have outpaced the rate of inflation the past three years, according to figures from the College Board.
Tuition increases have outpaced the rate of inflation the past three years, according to figures from the College Board.
Tuition increases have outpaced the rate of inflation the past three years, according to figures from the College Board.
Credit 401kcalculator.org
Tuition increases have outpaced the rate of inflation the past three years, according to figures from the College Board.

The College Board reports the average cost of tuition and fees in the 2015-2016 school year topped $9,400 for state residents at public colleges. It was $23,893 for out-of-state residents attending public schools, and $32,405 for students going to a private university. 

Add on books, room and board, and the cost of transportation if you live off campus, and the price of higher education can leave you with a case of sticker shock. So, other than student loans or hoping your child lands a scholarship, how can you pay for college?

Joining us with a look at the various plans for saving and investing for college are Certified Financial Planner Luke Hail with Foster and Motley, and Chris DeSimio, a financial advisor with Wells Fargo Advisors in Cincinnati.

Listeners are reminded that the information provided on the show is general in nature and may not apply to your personal investment situation.

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